These
terms and conditions are designed to define the rights, duties, and
responsibilities of M&U Co., Ltd. (¡°the company¡± hereinafter) and the
users, service terms and procedures, and other basic conditions in using the
COIN25 service the company provides for transactions of COIN25 related
cryptocurrency (¡°cryptocurrency¡± collectively hereinafter, including virtual
currencies or money).

Article 2 [Definition]

The
terms used in these terms and conditions shall be defined as follows:

(1) The
¡°company¡± shall refer to the person that provides the cryptocurrency exchange
service.

(2) ¡°Users¡±
shall mean the members and non-members (guests) who use the cryptocurrency
exchange service based on these terms and conditions by accessing the company¡¯s
site.

(3) ¡°Members
¡°shall mean those users who have entered into a service contract with the
company and who have been assigned a user ID by subscribing for the service membership by agreeing to these service terms
and conditions. They are those who are continually provided with the company¡¯s
information and are allowed to use the service provided by the company
continuously.

(4) ¡°Non-members¡±
shall refer to users who are not the company¡¯s service members (guests) but use
the service provided by the company.

(5) ¡°ID¡± shall mean a combination of alphabet
characters, special characters, and numerals registered in advance for user
identification in the service. It is indicated by e-mail address in the COIN25
service. It is generated only when the user performs
his authentication procedure through the user authentication service of e-mail
address or mobile phone number as required by the company after the user agrees
to these terms and conditions and registers his user account and password.

(6) ¡°Password¡± shall mean a combination of
characters and numerals provided by the user for protecting his privacy while
verifying he is the member using the ID assigned to him.

(8) ¡°Points¡±
shall mean the virtual means accepted by the company for a user¡¯s use of the
company¡¯s COIN25 service (ad uploading and trading service).

(9) ¡°Digital
wallet¡± shall mean the unique data that the company allows the users to use the
user¡¯s account and enables identification of Micon cash and cryptocurrency.

Article 3 [Provision of identity information
etc.]

The
company shall display the provisions of these terms and conditions, its trade
name, name in full of representative, address of its business locations
(including addresses where consumer complaints may be handled), phone number,
fax number, e-mail address, business or taxpayer registration code, mail-order [on-line] business registration code, personal
information administrator, etc., conspicuously on its website and the initial
screen of its mobile service. However, the terms and conditions may be set up
to be viewed by the users on a linked screen.

Article 4 [Effects and display of terms and
conditions]

(1)
These terms and conditions shall go into force when they are displayed on the
company mobile service and web pages or otherwise and a customer subscribes to
the company¡¯s service as a user by agreeing to these terms and conditions.

(2) The
company shall allow its members to print all of these terms and conditions and
provide their provisions so that the members may check them in the course of
trading.

(3) The
company may require the users to consent to its separate terms and conditions
for certain individual services provided by the company with detailed
instructions. In such a case, the users may freely consent to separate terms and conditions for certain
individual services using one account and may use the individual services to the
extent they have consented to.

Article 5 [Amendment of terms and conditions]

(1) The
company may amend these terms and conditions to the extent it does not violate
the relevant statutes, including the Online Digital Contents Industry Promotion
Act, Act on Protection of Consumers in e-Commerce, and the Act on Regulations
of Terms and Conditions.

(2)
When the company amends these terms and conditions, it shall publish the
current and amended terms and conditions together with the proposed application
date and cause for amendment on the initial pages of services for a reasonable
period at least seven days before the application date. The users shall be
regarded to have approved the amended terms and conditions unless they express
their intention to refuse them although the company has clearly notified them
that the users would be regarded to have approved the amended terms and
conditions if they fail to express their intention to refuse them when the
company enforces the amended terms and conditions at the time they are
published pursuant to the preceding paragraph. When users do not consent to the
amended terms and conditions, they may terminate the service contract or separately withdraw from the
company¡¯s service membership.

(3)
When the company amends the terms and conditions, it shall check if the users
consent to the amended terms and conditions after publishing them.

(4)
Matters that are not defined under these terms and conditions shall follow the
relevant Republic of Korea statutes, individual service terms and conditions
provided by the company, and the company¡¯s operational policies and rules
(¡°specific guidelines¡± hereinafter). The specific guidelines shall be followed
when these terms and conditions conflict with the provisions of the specific
guidelines.

Article 6 [Interpretation of the terms and
conditions]

Matters
that are not defined under these terms and conditions and their interpretation
shall follow the Online Digital Contents Industry Promotion Act, the Act on
Protection of Consumers in e-Commerce, and the Act on Regulations of Terms and
Conditions, Digital Contents User Protection Guidelines provided by the
Ministry of Information and Communications, and other relevant statutes or
business practices.

Chapter 2 Subscription to membership

Article 7 [Membership subscription]

(1) The
membership subscription shall be accepted by the company when the user
subscribes to an account to use the company¡¯s services after agreeing to these
terms and conditions while the company successfully performs the authentication
procedure for the subscription. The user shall use the generated account by
filling in his/her truthful information and shall not steal someone else¡¯s
personal information or violate the relevant statutes by means comparable to
such an act. When a user subscribes to the service by agreeing to these terms
and conditions, the user may use the company¡¯s services. If a user indicates a
false name or other information or steals someone else¡¯s name for identification,
the user shall not be allowed to claim the rights of the member under these
terms and conditions and the company may cancel or terminate the service
contract without refund.

(2) The
membership subscribers shall indicate the below-listed items of information on
their membership subscription form:

1.
Member ID (e-mail address)

2.
Password

3. Name

4. Date
of birth

5.
Phone No.

(3) To
check if the information provided by a user matches the facts, the company may
authenticate the user¡¯s identity or verify the user¡¯s name through a
specialized agency to the extent allowed under the relevant statutes.

(4) The
company shall complete all authentication procedures when a user subscribes to the
membership as above. However, the company may revoke or withdraw the membership
under any of the following conditions:

1. When
the applicant has previously been deprived of membership pursuant to these
terms and conditions;

2. When
the applicant uses a false name or uses some else's name;

3. When
the applicant indicates false information or fails to indicate information
requested by the company; or

4. When
it is impossible for the applicant to subscribe
to the membership for a cause attributable to him/her or the applicant
has subscribed to the membership violating other rules and regulations.

(5) The
company may defer a user account generation in any of the following cases although
the user applies for an account:

1. When
there remains no realistic room in the
capacity of equipment providing services;

2. When
it is believed there exist technical
problems in the provision of services; or

3. When
a financial or technical reservation is otherwise deemed necessary based on a
reasonable judgment by the company.

(6) To
comply with the real-name deposit/withdrawal account system enforced by the
government as part of its regulation of the cryptocurrency exchange, the
company enforces a policy to assign one account to one user. The users shall
use an account in their own name and shall not use two or more accounts without
a separate agreement with the company.

Article 8 [Special rules for membership
subscription by a minor]

(1) The
company shall restrict the use of services by minors or partly incompetent
persons; the company may deprive the user of membership without the user¡¯s
consent when it has been verified a minor or partly incompetent person has
subscribed to the membership.

Article 9 [Revision of member information]

(1) The
members may review and revise their personal information through the personal
information management screen at any time. However, it is not allowed to
correct or change the real name, account ID, etc. required for administering
services.

(2)
When any change takes place in the information a member indicated at time of
membership subscription, the member shall update the information online and
shall inform the company of such a change by e-mail or other means.

(3) The
company shall not be held responsible under any circumstances for disadvantages
caused by a member¡¯s failure to inform the company of such a change as provided
under paragraph 2.

Article 10 [Member¡¯s duty for management of
ID and password]

(1) The
members shall be responsible for the management of their ID and password which
shall be used by the user only. The member shall not allow any third party to
use their account. Also, the user shall administer his password personally so
that no others may use his account without authorization.

The member shall be responsible for
damages that are caused by negligently administering his account data or
allowing a third party to use them.

(2)
When a member becomes aware of the theft of his ID and password or their being
used by a third party, he shall notify the company immediately so that the
company may take actions immediately, including the suspension of the account.

(3) The
company shall never be held responsible for any disadvantages caused by a
member¡¯s failure to notify the company of such abuse under paragraph 2 or
failure to follow the company¡¯s instructions even if he notifies the company.

(4) The
users may review and correct their information through the setup screen in the
service. However, the account, phone number and certain other information
required for provision of services and
user identification may not be corrected. When any change takes place in the
information a user provided at the time of the service subscription, he shall
correct the changed information directly or shall request that the company
renew the changed information by e-mail or through the customer service center
in order to maintain his information up to date.

(5) The
company shall regard a user as duly authenticated without any separate
procedure when the account and password registered by a user match those
registered by the company.

(6) If
a user¡¯s account information is stolen and used for illegal acts by a third
party, the user shall especially heed the fact that he may be held responsible
for compensation of damages inflicted on a victim of financial fraud by
telecommunications service and other victims of such illegal acts.

(7) The
user shall bear disadvantages caused by his default or non-performance of his
obligations under the service contract even if the company has notified a user
of importance contents related to the service contract through the e-mail
address or phone number the user indicated in the service.

Article 11 [Notice to the members]

(1) The
company may notify the members using the e-mail address provided by them.

(2) The
company may notify all members by displaying the details on its bulletin board
for seven or more days in lieu of the notice under paragraph 1. However, the company
shall notify the members individually for matters that may materially affect
their transactions.

Article 12 [Withdrawal from membership and
loss of eligibility]

(1) The
company may request a member¡¯s withdrawal at any time and shall immediately revoke
the membership.

(2) The
company may suspend a member¡¯s use of the service or take other appropriate
restricting actions, under the following conditions:

1. When
a member fails to enter the necessary information or enters false information
in his subscription form;

2. When
a member fails to pay the service fee or to perform other liabilities he bears
for using the service within the given period;

3. When
a member obstructs others in using the company¡¯s service or threatens the order
of e-commerce by stealing information concerning others or committing similar
acts;

4. When
a member commits any other act that is prohibited by statutes or these terms
and conditions, or that violates the public order or customs used by the
company;

5. When
a user attempts to generate an account using someone else¡¯s name, e-mail
address or other personal information;

6. When
the act of using this service constitutes or is remarkably feared to constitute
a breach of the relevant statute pursuant to statutes of a country other than the
Republic of Korea that is valid in the
territory the user resides within;

7. When
it is confirmed that a minor or partly incompetent person has subscribed to the
service;

8. When
it is verified that the user has violated a statute of the Republic of Korea in using the service;

9. When
it is verified that the user has utilized the service for telecommunications-based financial fraud or the
victim¡¯s money has been deposited or withdrawn by telecommunications-based financial fraud;

10.
When a user applies for withdrawal of an account when the account has already
been generated based on his subscription or subscribes to an identical account
that has been fully withdrawn;

11.
When the user¡¯s personal information has been leaked or it is believed to have
been leaked;

12.
When damages are inflicted on the company by the user¡¯s illegal act committed
in the course of using the service;

13.
When the company is unable to generate any new account because the Korean
government or its subordinate agencies adopt new policies or change or abolish
existing policies; or

14.
When it is materially feared that the company¡¯s act of accepting the user¡¯s
subscription to an account may be recognized as a violation of the Republic of
Korea law.

(2)
When the same act is repeated two or more
times after the company restricts or suspends the membership or the cause is
not corrected within 30 days, the company may deprive the user of membership.

(4)
When the company deprives the user of membership, the member registration shall
be erased.

Chapter 3 Use of service

Article 13 [Contents of service and its
modification]

(1) The
company shall provide a service by which the users may trade cryptocurrency by
Internet or mobile service (¡°the service¡± hereinafter). The users may use the
service by logging on to the mobile or web pages.

(2) The
service may provide the below-listed services:

1.
Exchange wallet; and

2.
Digital wallet whose use the user has applied for among digital wallets the
company provides for cryptocurrency.

(3) The
company shall provide the below-listed wallets by which the users may use the
services under paragraph 1:

(4) The
users shall use the services using the means the company permits in the
services provided by the company.

(5) The
company may provide separate services adding values as provided under the
individual service terms and conditions.

(6) The
company may request the users to agree to the individual service terms and
conditions when a service requires such agreement based on the relevant statute
or technical needs depending on the nature of a service among diverse services
the company provides to the users. In such a case, the users may use individual
services based on the terms and conditions they have agreed to.

(7)
When a system error occurs during the use of a service, including those with
the individual programs, the company may delete wrong information or dates
created by such an error and restore or indicate the truthful information.
Depending on the case, the company may reset the information or data to the
trading information at a given time immediately before the error occurred. When
wrong information is indicated at the time a system error is detected, the
users may exercise the rights or bear duties based on the actual
information-based service as the true information is indicated with the error
corrected.

(8) The
company is not responsible for the communications and financial service charges
incurred in the process the users use the service as they are the cost or price
for their use of the communications and financial services they have employed.

Article 14 [Methods for use of service and
points to note)

(1) The
company shall provide services by which the users can trade cryptocurrency at
the trading price they agree to.

(2) The
users register or upload their desired buy or sell prices for cryptocurrency held
in their digital wallet using the methods the company provides for the service
and the deals are closed by affirming the other user¡¯s intention to sell or buy
it. The users are encouraged to employ a smooth communications service as the
outcome of closed buy or sell deals may be displayed on the user¡¯s handset
after a temporary delay due to a failure of network technologies even when the buy or sell deals are duly closed.

(3) The
users may transmit cryptocurrency held in their digital wallet or receive
cryptocurrency transmitted by other users using their wallet by the methods the
company provides for the use of the service. In such a case, the deal is
completed after the time required for undergoing the procedure required in the
blockchain where the relevant cryptocurrency belongs is exceeded. The company
shall merely perform the service of transmitting the cryptocurrency to digital
wallets designated by the users. The transmission is performed on the
blockchain network independent from the company. However, the company shall pay
the network service fee by collecting it from the users in the process. The
network service fee may fluctuate depending on the pending transmission demand
and supply of the network service.

(4) The
users shall pay fees to the company for using the COIN25 exchange service. The
fees for using the COIN25 exchange service shall be indicated under public
announcements of the COIN25 exchange service on the company mobile/web pages.
The company may announce modified fees for the service at any time based on the
market or the company¡¯s circumstances. The modified fees shall be collected
from the day designated on the announcement date.

(5) The
users may freely use the service, but their use of the service may be
restricted in the following ways:

1. The
users shall not obstruct the company¡¯s provision of the service and shall not
use the service using any methods other than those permitted by the company.

2. The
users shall be prohibited from committing any unauthorized acts of collecting and
using information of the other users, using the service for business or
commercial purposes (it may be permitted as an exception
when they enter into a separate contract), transmitting or uploading
information that violates public order or good customs, or statutes, committing
any criminal acts, and lending, transferring or pledging their account
information as collateral for third parties.

3. The
users shall be prohibited from copying, correcting, distributing, selling,
transferring, lending or pledging as collateral, or allowing others to use the
service or a part of the software included in the service, or designing the
software by reverse engineering, or attempting to derive the source code, or
duplicating, disassembling, simulating or otherwise modifying the service
without consent by the company.

4. The
users shall not commit acts violating the statutes of the Republic of Korea or
the statutes of the territory they reside in.

(2) The
users shall not lend, transfer, donate or pledge as collateral their right to
use the service or other contractual position with the company in relation to
their use of the service. The company shall never be held responsible for any
disadvantages caused by such an act.

(3)
When a user fails to comply with the relevant statutes, all the terms, and conditions, or policies of the company, the
company may investigate the user¡¯s violating acts or suspend the service use by
the user temporarily or continually, or
may restrict the user¡¯s re-subscription to the service.

(4)
When a user has no records concerning his login or access to the service for a
period provided under the relevant statute, the company may destroy or retain
the user¡¯s information after giving notice to the user by e-mail, SMS or other
valid means. The company may also terminate the service contract when the
essential information required for use of the service is insufficient.

To prevent damages caused by a possible
theft of a user¡¯s account when the user fails to log on to the service for a
given period, the company may request additional information as required for
the use of the service by the user. Especially, when the user fails to log on
for 12 months or longer, the company may take actions to discontinue the
account.

(5) The
users shall check whether disadvantages may be inflicted on them by their use
of the service when they reside in a territory where their use of the service
violates or is feared to violate the local law. In particular, when it is
believed based on the company checking the territory where a user resides that
the user¡¯s use of the service constitutes or is feared to constitute violation
of the local law (including cases when law-enforcement agencies in Korea and
overseas initiate investigation of the user¡¯s use of the service), the company
may immediately suspend the user¡¯s account.

(6)
When a government agency requests the freezing of a user¡¯s account and digital wallet
in writing based on a court order or request by a law-enforcement agency for
cooperation in a crime investigation, the company may take action to suspend
the account without the user¡¯s consent while freezing the relevant account and
digital wallet.

(7) The
company may suspend the service temporarily for periodic or ad hoc maintenance
or repair of the equipment for other reasonable reasons with an advance notice
published on the service screen. When the service is suspended for a reason the
company cannot forecast, the company shall immediately make efforts to recover
the service in the earliest possible time.

(8) The
service may be modified or terminated for such causes as those where the
company¡¯s contract with its partner companies for the provision of the service is terminated or amended or when a new
service is launched. The company shall publish the details of the service
modification or termination on the initial screen of the service, screens of
individual services, or the public announcement space.

(9)
When any of the following transpires, the company may cancel the registration
of buying or selling offers or
contracting transactions and may recover the original conditions based on its
own authority: The user¡¯s authority to use the account shall be withdrawn while
the company may liquidate the balance of all cryptocurrency held by the user.
In that regard, the company shall never be held responsible for any losses
incurred to or gains accrued by the user by such actions by the company.

1. Details
of an abnormal use of the service by the user and individual transactions
directly related to such abnormal use of the service;

2.
Details of a hacking by third parties other than the user or a similar
situation, or all transactions conducted after such situation transpires;

3.
Details of an error of the service system and all transactions conducted after
the error occurs;

4.
Details of a service failure attributable to the telecommunications or security
service providers and all transactions conducted after such a failure;

5. The
details of transactions through the account used for such acts

(10)
The users shall use the service with their own expenses and responsibilities
after checking the below-listed points to note:

1. As
the service mediates transactions of cryptocurrency between the users, the
company shall never guarantee the value or cashability
of any cryptocurrency in any case. The
users shall exclusively bear all financial interest accrued to them by their
trading of cryptocurrency.

2. The
company shall never warrant the truthfulness of the user¡¯s personal information
held by the company. However, the company shall immediately suspend the user¡¯s
use of the service and take other corresponding actions when it confirms that
the information provided by the user to the company is not true.

3. The
users may bear responsibilities under the relevant statutes when their account
is abused by third parties.

4. Highly
significant volatility is possible depending on the law, policies,
authoritative interpretation, and economic conditions of Korea and other
countries around the world. In particular, as the interpretation of legal acts
concerning transactions of cryptocurrency may vary from country to country,
unique risks differing from legal tender are inherent in cryptocurrency. The
users shall pay attention to this point without failure.

5. The
Republic of Korea government does not recognize the legal status of
cryptocurrency officially. Especially, it does not admit its transaction as
legitimate financial transaction. Therefore, changes may take place in the
legal status and value of the cryptocurrency depending on changes in the policy
of the Republic of Korea government.

6. The
company has no relations with the network
or telecommunications services used by the users.In other words, the users shall always
check the speed and other conditions of such telecommunications service. When
the network conditions are not acceptable, they shall abstain from trading acts
in order to prevent unexpected incidents.

7. The
service and various online transactions have become a target of advanced crime
groups. Though the company makes its best effort to maintain the security of
its trading service, the majority of the hacking incidents that occur in
reality are secondary incidents caused by the hacking of the WiFi network under
use by the users, mistakes in administering the password and other account
information, and hacking of personal information recorded on a cloud service.
Therefore, it is necessary to prevent possible advanced crimes considering
these factors without failure.

8. The
company may be required to inspect its servers urgently for unexpected causes.
In such a case, the company may inspect them urgently. When it is determined
based on the inspection that COIN25 mobile homepage or website cannot be
accessed, the company shall notify the cause for inspection and its proceedings
through its band account or website (www.coin25.co).

9. When
the market price of cryptocurrency sharply fluctuates or unexpected conditions
arise during such emergency inspection and losses may be incurred to the users,
the company may minimize the damages to the users by allowing cancellation of
orders received in a given period or other similar means.

Article 15 [Use of paid service]

(1)
When a user uses a paid service provided by the company, the user shall pay the
fee for the service using a method provided by the company.

(2) The
company may request that the user provide additional personal information
required for payment whereas the user shall provide accurate personal
information as requested by the company.

(3)
Even if a user requests a refund of the payment for a cause attributable to the
user, the refund of the payment shall not be made when the paid service
provided by the company has been used as the service is completed by one-time use or purchases. Further, the company
shall not be required to refund to the user when the company restricts the use
of the service by the user or terminates the contract as the user has violated
these terms and conditions.

(4)
Notwithstanding paragraph 4, the company will return the money paid by the
users in cases falling under any of the following:

1. When
the users cannot use the service at all for a cause attributable to the
company; or

2. When
the service requested by the user has not been provided at all;

(5) The
users may file an objection to the service rate. However, any objections
concerning the service rate shall be filed within a month from the day the
cause is known or three months from the day the cause transpires. The user¡¯s
right to file an objection shall expire if the user fails to file the objection
within the said period.

(6) The
company shall return any amount paid excessively or erroneously or an amount to
be fully returned by the method identical to the payment of the service fee. However,
when the return by the method identical to the payment of the service fee or a
partial return is made for halfway termination of the service contract, the
return shall be made by a separate method provided by the company.

(7) The
individual service terms and conditions shall prevail when they conflict with
any provisions of these terms and conditions.

Article 16 [Notification of confirmation of
acceptance, and change and cancellation of service subscription]

(1) The
company shall send its confirmation of receipt when a user subscribes for the
service.

(2)
When the user finds any discrepancy in the confirmation of acceptance received
from the company, the user may request a change in or cancellation of the
service subscription immediately upon receipt whereas the company shall comply
with such request without delay if the user makes the request before the
service is provided.

Article 17 [Obligation of the company]

(1) The
company shall faithfully exercise its rights and perform its duties as provided
under the statutes and these terms and conditions.

(2) The
company shall be equipped with a security system to protect personal
information (including credit information) so the users may use the service securely and shall publish and adhere to its
personal information protection policy.

(3) The
company shall ensure so that the users may check the particulars of their use
of the service and payment of its rate.

(4) The
company shall handle opinions or complaints the user files in connection with
their use of the service without delay when the opinions or complaints are
believed to be legitimate. The company shall deliver the handling processes of
opinions or complaints filed by a user and the outcome using its bulletin board
or e-mail service.

(5) The
company shall compensate damages inflicted on the users by a breach of its
duties under these terms and conditions.

(6)
Although the company strives to provide the service 24 hours on 365 days a
year, it does not warrant it. The company will resume the service after
resolving problems when the service is temporarily stopped by an illegal act of
a user or third party, or an incorrect transactional record is displayed
because of an error in the service. In such a case, the user may request that
the company recover the actual record of cryptocurrency based on the
transactional record held by the company.

(7) The
company shall not compensate or indemnify damages caused to the users by a
cause irrelevant to the company, including a failure attributable to a
third-party service provider or a user, including the network operators under
the Telecommunications Service Act and defects in blockchain-based
cryptocurrency.

(8) The
company may inspect its servers at any time to provide a stable service while
the users may trade their cryptocurrency when the server inspection is
completed. In particular, when damages are likely inflicted on the users
because of a computing system error attributable to a surge in order volume,
the company prevents damages that may be inflicted on the users due to a
possible error in the trading system by performing an emergency inspection
within the minimum required scope.

Article 18 [Obligation of the users]

(1) The
users shall not commit the below-listed acts:

1.
Indicating false information in their subscription for the service or update of
their subscription;

5.
Infringing copyright or other intellectual property rights belonging to the
company or any third parties;

6.
Committing acts damaging the reputation of the company or any third parties or
obstructing their operations;

7. Disclosing
or uploading on the company¡¯s site any obscene or violent words, images, voices
or other information violating public order or good customs; or

8.
Other illegal or unjust acts.

(2) The
users shall comply with the provisions of the relevant statutes and these terms
and conditions, service information and warnings published in connection with
the service, and notices by the company, and shall not commit any acts that may
obstruct the company¡¯s operations.

(3) All
trading acts performed in the relevant login
period shall be regarded to be based on the true intention of a user who
accesses the company¡¯s mobile/web pages by entering the user¡¯s account number,
password and other information all matching the login information the user has
previously provided in order to use the company¡¯s service.

Therefore, the users shall maintain the
confidentiality and security of their account, password and other information.
They shall also watch out for the possible damages caused by a financial
accident or crime that may arise due to the possible leak of their personal
information attributable to them.

(4) As
there exist no issuing entities of cryptocurrency, their value or payment of
their price is not warranted by any third parties home and abroad (including
the company). Highly significant volatility is possible depending on the law,
policies, authoritative interpretation, and economic conditions of Korea and
other countries around the world. In particular, as the interpretation of legal
acts concerning transactions of cryptocurrency may vary from country to
country, unique risk differing from legal tender are inherent in
cryptocurrency. The users shall pay attention to this point without failure.

(5) The
users shall always pay attention for themselves to avoid damages of
telecommunications-based financial fraud. The company may freeze the account or
digital wallet of a user without his/her consent when it is required to do so
based on an investigation conducted on such a fraud by law-enforcement
agencies, including crime investigation agencies, justice or administrative
agencies.

(6)
When damages are inflicted to the company by an illegal act by a user, the
company may exercise its legal right to claim damage compensation from the
user. Therefore, the user shall always comply with the statutes in using the
company¡¯s service.

(7) As
the cryptocurrency is traded on exchanges located in Korea or other countries,
the users shall trade them after checking the market price and value of this cryptocurrency
to trade under their own responsibility and with their expenses.

(8)
When the company restricts a user¡¯s use of his account, the user shall bear the
below-listed obligations toward the company:

1. When
an account is suspended, the company
shall conduct an internal investigation
of the account. The user shall actively cooperate with the company¡¯s
investigation.

2. When
an account is suspended, the user shall not be allowed to deposit in or
withdraw points from his/her account and shall also be unable to trade through
his/her digital wallet.

3. The
company may restrict the use of an account by a user based on its discretion
with an advance notice of seven days after the completion of its internal
investigation. The company shall notify the user of such decisions while the
user shall be given a procedure to defend himself.

4. The
user may liquidate the balance of cryptocurrency held in his digital wallet during
the seven-day advance notice period under subparagraph 3. After the lapse of
the relevant period, the company shall forcibly liquidate the balance of
cryptocurrency remaining in the account at the market price at the time of
liquidation, and shall also return the points remaining in the user¡¯s account
to the address the user registered for such return.

5. The
users shall provide COIN25 with accurate specific information related to the
withdrawal of the points, including the address for return (refund) to them.
The company shall not be held responsible for any damages caused by the user¡¯s
provision of incorrect information, including a case where the company performs
withdrawal using incorrect information provided by the user believing it is
correct.

Article 19 [Fees and points]

(1)
When a user trades cryptocurrency using the company¡¯s service, the trading
particulars shall be recorded in the service system. The company may collect a
given fee for deals closed for the trading
of cryptocurrency in COIN25.

(2)
When a user transmits or receives cryptocurrency using the company¡¯s service,
the trading particulars of the relevant cryptocurrency are recorded on the
blockchain network so that the truthfulness of the relevant trading may be
checked by the cryptocurrency users around the world. In the process, network
fees are paid.

The fee
the company collects from the user is paid to the blockchain network. The fee
payable to the network may fluctuate.

(3) The
company shall warrant to the users the exchange of points at the market rate
determined by the company. However, this shall not apply when the service
contract is terminated due to a cause attributable to the user or when the user
commits an act violating any of the Republic of Korea statutes using the
service provided by the company.

(4) The
company shall vest the relevant points to the user¡¯s account for the cash the
user pays to the company¡¯s bank account after providing the information
requested by the company.

(5) The
users may at any time get paid the amount of cash corresponding to the points
deposited in their account by the method provided by the company. However, the
company shall not be required to pay interest or comparable money on the points
deposited in the user¡¯s account.

(6) The
company shall never use the points deposited in the user¡¯s account without
consent by the user.

(7) In
cases falling under any of the following, the company may restrict the
conversion of the user¡¯s points into cash by notifying the user of the
restriction and its cause:

1. When
requested by a court or government agency in writing;

2. When
ordered by a court, or requested by a government agency, including
law-enforcement agencies;

3. When
it is suspected the user has committed a crime or attempts to hide the gains
from a crime;

4. When
it is suspected the user¡¯s account has been stolen; or

5. When
false information has been generated or incorrect information differing from
the actual transaction details is indicated in the particulars of the user¡¯s
use though the user has closed no deals.

Article 20 [Provision of service and stoppage
of use)

(1) The
company shall provide the service 24 hours a day throughout the year without
pause.

(2) The
company may temporarily discontinue its service provision for repair and
maintenance, replacement, failure of its computers and network equipment, or
network breakdown, or other reasonable operational reasons. In such a case, the
company shall notify the users by the method provided under Article 11 [Notice
to the members].

The
company may notify the users retroactively when an unpreventable cause disables
the company¡¯s advance notice.

(3) The
company may conduct periodic inspections as required for the provision of the
service. The periodic inspection time shall be announced on the service screen.

(4)
When the service cannot be provided due to the conversion, renunciation, or
merger of business lines, or a similar reason, the company shall notify the
users by the means provided under Article 11 [Notice to the members] and shall
compensate the users as originally presented by the company.

However,
when the company has not notified the users of the compensation guidelines or
the notified compensation guidelines are inappropriate, the company shall pay
the user¡¯s mileage or accumulated amounts in kind or cash.

(5)
When a user does not want the service or does not agree to these terms and
conditions, the user may request the termination of the service contract at any
time using the menu provided in the service or the customer service center. The
company shall allow the user to withdraw from the service as provided under the
statute.

However,
the company shall not be held responsible for damages inflicted on the users in
the process of the service contract termination based on the user¡¯s request
without the company¡¯s intentional act or negligence.

(6) The
company may start the procedure under Article 18 paragraph 4 or may terminate
the service contract by notifying the user in advance when a user defaults on his
duty under these terms and conditions or the individual service contract two or
more times, or when the condition for releasing the suspension or restriction
of the service which the company has taken an action to suspend or restrict all
or a part of the service provided by the company.

(7)
When the service contract is terminated for a user, the company shall delete
the user¡¯s information unless it is retained based on a statute or the
company¡¯s personal information handling policy. In such a case, the user may
request that the company provide the information retained by the company.

(8)
Even if the service contract is terminated, the user may request that the
company reinstate the service contract. However, the reinstatement of the
service contract may take time or may be
restricted based on these terms and conditions.

(9) The
company may restrict the use of the service by a user based on the below-listed
guidelines: In such a case, the company shall notify the user of the cause,
date and period for restricting the service by e-mail, SMS or other means
indicated by the user. The user may file an objection to the restriction of the
service by the company within seven days from the day the service restriction
is reported to the user.

1.
Restriction of service (service not available, except for login)

- When
the name (contact address/phone) is not authenticated;

- When
the user is verified to be a minor or partly incompetent person under the Civil
Act;

- When
a hacking/fraud case transpires (regarded as the relevant contents when an urgent restriction is requested);

- When the
user is related to an accident (or is reasonably suspected to be related to an
accident);

- When the error of payment security is repeated;

- When
withdrawal is requested;

- When
the service is used for criminal acts;

- When
the user manipulates the market price to gain unjust profits or disturbs the
market order; or

- When
it is believed that the user induces other serious errors obstructing the
administrator from providing normal services (including but not limited to
DDoS, login using an unauthorized method,
and generation of traffic for mining).

All
transactions other than the resolution of
the suspension cause or the administrator decision-based login are suspended,
and point deposit and withdrawal are also suspended.

2.
Restriction of login

- When
a hacking/fraud case occurs;

- When
a name is suspected to have been stolen;

- When
requested by a court or government agency;

- When
there exists a remarkable situation where illegitimate acts are suspected,
including rejection of a request for verification of error data occurring in
trading;

- When
the user data or other information is not satisfied with using modified policies through
the grace period has elapsed for modification of service policies;

- When
it is verified that a user with an identical name has subscribed, held or used
two or more accounts;

- When
it is suspected the actual username
differs from the name used on the system, including cases where a user has
allowed a third party to use his account or lent his account to others;

The
suspension cause resolved or log-in
suspended based on the administrator¡¯s judgment

A part
of service (withdrawal of cryptocurrency, conversion into Korean won currency
etc.) restricted

- When
the user fails to perform the user authentication procedure requested by the
company although the service requires the user authentication as a prerequisite;

- When
there exists a remarkable situation where it is suspected the user has used the
service for illegitimate use or abnormal transactions;

- When
it is believed the company's employees or those to whom the company outsourced
duties can hardly provide customer service smoothly as the user has repeatedly
used abusive or loud language to them in the process of providing the company¡¯s
customer service three or more times; or

- When
a user fails to undergo the procedure provided in the company¡¯s customer
service procedure or refuses the company¡¯s request necessary for the service
requested by the user

The
suspension cause resolved or restriction
of a service designated by the administrator based on his judgment

Article 21 [Modification of service]

(1) The
company may modify the service it provides for operational or technical
requirements when there exists a reasonable reason.

(2)
When the company intends to modify the service contents, using a method or service hours, it shall upload the
details of the modification and planned provision date, etc. on the initial
screen of the relevant service seven days or longer before the modification.

(3)
When the contents of the modification under paragraph (2) are important or
disadvantageous to the users, the company shall obtain their consent by
notifying them using the methods provided under Article 11 [Notice to the
members]. In such a case, the company shall continue to provide the service
before the modification to those users who refuse to consent.

However, the company may terminate the
contract if it cannot provide the previous service.

(4) The
company shall compensate damages inflicted on the users by the modification of
the service under paragraph (1) or the contract termination under paragraph
(3).

(6) The
service enables a user to trade cryptocurrency with other users, to transmit
the cryptocurrency held in his digital wallet inside COIN25 Exchange to another
digital wallet, or to receive cryptocurrency from other wallets to his wallet
inside COIN25 Exchange through the blockchain network.

The current blockchain technology is
assessed to disable any tampering by a third party. However, it may change at
any time by an advance in technology or other unexpected conditions.

Article 22 [Service provision and display of
advertisement]

(1) The
company may provide the users with diverse pieces of information that are
believed to be required while they use the service by public announcement,
e-mail, or other means. However, the users may always refuse to receive such
information by e-mail or other means.

(2) The
company shall obtain the users¡¯ consent in advance when it plans to transmit
the information under paragraph (1) by phone or fax.

(3) The
company may display advertisements related to its provision of the service on
its service screens, websites, e-mails, and push messages (which may be linked
to pages provided by third parties). Users who received such e-mail messages
with advertisements may inform the company of their rejection.

(4) The
relevant linked pages provided by a third party as described under the
preceding paragraph do not belong to the company¡¯s service domain and
therefore, the company does not warrant their reliability, stability, etc. The
company shall not be held responsible for any damages inflicted on the users by
such third-party pages.

Article 23 [Deletion of uploaded articles]

(1) The
company shall delete without delay any
articles harmful to children and youth that are uploaded on its bulletin
boards, violating the Act on Promotion of ICT Network Service and Protection of
Information. However, this shall not apply to the bulletin boards that can be
used by users of 19 years or higher age.

(2)
Anyone whose legal interests have been infringed upon by information uploaded
on bulletin boards operated by the company may request that the company delete
or upload articles refuting such information. In such a case, the company shall
take necessary actions without delay and inform the applicant immediately.

(3) The
company may refuse the deletion or display [of the refuting articles] when it
believes the user¡¯s article violates any statute or its service policy.
However, since the company is not liable to review all uploaded articles, the
users may request that the company examine the relevant articles when they find
articles infringing on their rights.

Article 24 [Ownership of intellectual
property rights etc.]

(1) The
copyright and other intellectual property rights of articles authored by the
company shall belong to the company¡¯s ownership.

(2) The
copyright and other intellectual property rights of articles the company
provides in connection with its service under an alliance contract shall belong
to the relevant provider.

(3) The
users shall not duplicate, transmit, publish, distribute, broadcast, otherwise
use or let third parties use for commercial purposes any information whose
intellectual property rights belong to
the company or a third-party provider without their advance approval among
information they acquire by using the service provided by the company.

(4) The
company shall obtain the relevant user¡¯s approval when it intends to use
articles authored by the user under an agreement.

(5) The
users may upload photos, articles, information, (video) images, their opinions
or suggestions concerning the service on the service pages (¡°uploaded articles¡±
hereinafter) using the methods permitted by the company. However, when a user
uploads an article that expresses
contents violating statutes or the service policies, the user shall be exclusively
responsible for all legal and other liabilities arising from the article.

To use services by other users, a user
shall obtain separate permission from the service owners.

Article 25 [Protection of personal
information]

(1) The
company may collect the minimum information required for the user¡¯s use of the
service in addition to the items of information indicated on the subscription
form under Article 7 paragraph 2. To that end, the user shall faithfully
provide truthful information concerning questions by the company. The users
shall not be protected from disadvantages caused by their provision of false
information.

(2) The
company shall obtain the user¡¯s consent when it collects personal information
that enables identification of the user.

(3) The
company shall not use the information provided by users on their subscription
form or collected as provided under paragraph (1) for other purposes or provide
information to third parties without the consent of the relevant user. However,
this shall not apply to the below-listed exceptional cases:

1. When
information is provided in a format that disables identification of specific individuals
for statistics preparation, academic research or market research;

2.
¡°When it is required to settle the service rates;

3. When
it is required to authenticate the user for preventing theft; or

4. When
it is inevitable for requirements under provisions under the terms and
conditions or a statute.

(4)
When the company is required to obtain the user's consent pursuant to paragraph
(2) and (3), it shall inform the user of the identity of the personal
information manager (organization, name in full, phone number and other contact
address), the purposes of collection and use of the information, items of
information concerning the provision of information to third parties (those who
are to be provided, the purpose of provision, and contents of information to be
provided) by specifying the items provided under Article 22 paragraph 2 of the
Act on Promotion of ICT Network Service and Protection of Information.

(5) The
users may always request that the company review and correct errors in their
personal information held by the company whereas the company shall take
necessary actions to honor such request without delay. When a user has
requested that the company correct an error, the company shall not use the
personal information until the error is corrected.

(6) The
company and those who have been provided with personal information may use the
personal information to the extent consented to by the users and shall destroy the relevant personal information without
delay when the purpose is accomplished.

(7) The
company shall strive to protect the users¡¯ personal information as provided
under the Act on Promotion of ICT Network Service and Protection of Information
and other related statutes. The relevant statutes and the company¡¯s personal
information handling policy shall apply to the protection and use of personal
information.

(8) The
users¡¯ personal information shall be used to provide the service smoothly to
the extent consented to by the users. The company shall not provide the users¡¯
personal information to any third party based on the statutes unless
specifically consented to by the users. The detailed requirements concerning
this shall be provided under the personal information handling policy.

(9) The
company shall not be held in any way responsible for all information including
any personal information that has been disclosed due to a cause attributable to
the relevant user.

Chapter 4 Withdrawal from the subscription to the service
contract, cancellation, and termination
of the contract, and restriction of use

Article 26 [Withdrawal by users from
subscription and cancellation or termination of contract]

(1)
Users who have signed a contract with the company for the use of the service
may withdraw their subscription within seven days from the day the confirmation
of its receipt is notified. However, the users¡¯ right to withdraw their
subscription may be restricted when the company has taken one of the
below-listed actions:

1. When
the information concerning services whose subscription cannot be withdrawn is indicated in the items of representation;

2. When
trial goods are provided; or

3. When
a time-limited or partial use or similar
methods are provided.

(2) The
users may cancel or terminate the service contract within three months from the
day the relevant service is provided or
within 30 days from the day when the fact is or could have been known to them
when there exists any of the following causes:

1. When
the service provided under the service contract is not provided;

2. When
the service provided is different or remarkably differs from the
representation, advertisement etc.; or

3. When
it is remarkably impossible to use the service in a normal manner because of
other defects of the service.

(3) The
withdrawal of subscription under paragraph (1) and the contract cancellation
and termination under paragraph (2) shall go into force when the intent is
expressed by the user to the company by phone, e-mail or fax.

(4) The
company shall respond to the user without delay after receiving the user¡¯s
intent of the withdrawal of subscription and the contract cancellation and
termination pursuant to paragraph (3).

(5) The
users may request a perfect service or correction of defects in the service use
by providing a reasonable time before expressing their intent to cancellation
and termination of the contract for causes under paragraph (2).

Article 27 [Effect of withdrawal by users
from subscription and cancellation or termination of contract]

(1) The
company shall return the payment to the user by the method identical to that of
the payment within three days from the day the user expresses his intent to
withdraw his subscription or the day the company replies to the user as to the cancellation or termination of the
contract. When the return by the identical method is impossible, the company
shall notify the user in advance.

When the company delays the return of the
payment, it shall pay a delay interest
for the delayed period by multiplying the delay interest rate publicly notified
by the Fair Trade Commission.

(2) In
returning the payment as provided under paragraph (1), the company may deduct
from the amount to return an amount corresponding to the benefits the user has
gained from using the service.

(2) In
returning the payment back to the user, the company shall request that the business
operator that provided the payment means suspend or cancel the billing of the
amount payable for the goods, etc. without delay when the user has paid for the
goods, etc. by credit card or digital currency.

However,
this shall not apply to cases where an amount needs be deducted as provided under paragraph (2).

(4) The
company shall not claim any cancellation charge or damages based on the user¡¯s
withdrawal from subscription. However, the user¡¯s cancellation or termination
of the contract shall not affect the claim of damage reparation.

Article 28 [Contract cancellation or
termination by the company and restriction of use]

(1) The
company may cancel or terminate the contract without an advance notice or
restrict the use of the service in a given period when a user commits acts
under Article 12 paragraph (2).

(2) The
cancellation or termination under paragraph (1) shall go into force when the
company expresses its intent to the user by the notification method he has
provided.

(3) The
user may file an objection to the company¡¯s contract cancellation or
termination and restriction of use by a procedure provided by the company. When
the company recognizes the objection is just, it shall immediately resume the
service.

Article 29 [Effect of contract cancellation
or termination by the company]

Article
27 shall apply to the effect of contract cancellation or termination by the
company due to a cause attributable to the user. However, the company shall
return the payment to the user within seven business days from the day the
company expresses its intent to cancel or terminate the contract by the method
identical to that of the payment by the user.

Chapter 5 Excess or incorrect payment, damage
compensation etc.

Article 30 [Excess or incorrect payment]

(1) The
company shall return the entire amount of any excess or incorrect payment by
the user by the method identical to that of the payment by the user. However,
the company shall notify the user in advance when it is impossible to return
the payment by the method identical to that of the payment by the user.

(2)
When any excess or incorrect payment is made due to a cause attributable to the
user, the user shall bear expenses required for the company to return the
excess or incorrect payment to a reasonable extent.

(3)
When the company refuses to return the excess
or incorrect payment as claimed by the user, the company shall prove the
service fee rate has been duly imposed.

(4) The
company shall handle the return of the excess or incorrect payment according to
the guidelines for protection of the digital service users.

The
company shall handle the criteria, scope, methods, and procedure concerning the service defects according to the
guidelines for protection of the digital service users.

Article 32 [Compensation of damages and
special agreements]

(1) The
company shall not make any agreement or warranty on any specific matters
related to the service that is not
provided under these terms and conditions to the extent allowed under the
relevant statutes. In addition, the company shall not warrant the value of any
articles or cryptocurrency of any form the company has not issued or make payment guaranty.

In addition, the company shall not
warrant the reliability and accuracy of the information, data or facts the
users have uploaded on the service by writing or other means.

(2)
When the user suffers damages due to an intentional act or negligence by the
company, it shall compensate the damages to the user pursuant to the Republic
of Korea statutes. However, the company shall not compensate damages inflicted
on the user by a cause not attributable to or beyond the control of the
company, including a war, riot, flood, earthquake or a comparable force
majeure, or de facto or de jure administrative actions or orders by a
government agency.

(3) The
company shall not be held responsible for the service errors or failures
attributable to the user.

(4) The
company shall not be held responsible for the reliability or inaccuracy of the
information, data, or facts a member uploads in connection with the service.
When the information provided by the user differs from the fact, the company
may suspend the service or terminate the
whole or a part of the contract based on these terms and conditions at any
time. The company may claim the compensation of any damages that are inflicted
by that.

(5) The
company shall not bear any responsibility for any disputes arising via the
service between users or a user and a third party.

(6)
When damages are inflicted on the company by an illegal act by a user, the
company may exercise its legal right to claim damage compensation by the user.
Therefore, the user shall always comply with the statutes in using the
company¡¯s service.

(7) The
company may immediately delete the member's account information and all data
related to the user when the service contract between a member and the company
is terminated due to the service contract termination by the member or the
company unless the company retains the member related information pursuant to
the relevant statutes and the personal information handling policy. The company
shall not be held responsible for the deletion of the member's account
information and related data after the service contract is terminated.

(8) The
company shall be exempted from damages inflicted on the members due to
discontinuance or failure of normal provision of telecommunications services by
a facilities-based telecommunications service provider unless attributable to
an intentional act or grave negligence by the company.

(9) The
company shall be exempted from discontinuance or failure of the service due to
repair, replacement, periodic inspection, or construction works of the service
equipment announced in advance or other inevitable causes unless attributable
to an intentional act or grave negligence by the company.

(10)
The company shall be exempted from all problems arising due to the conditions
of the member¡¯s computers or network service conditions unless attributable to
an intentional act or grave negligence by the company.

(11) A
part of the service may be provided through a service provided by other service
providers. The company shall be exempted from damages caused by the service
provided by other service providers unless attributable to an intentional act
or grave negligence by the company.

(12)
The company shall be exempted from damages caused by an error of the member¡¯s
computer, indication of incorrect personal information or e-mail address, or
failure of indication of such information unless attributable to an intentional
act or grave negligence by the company.

Article 33 [Settlement of disputes]

These
terms and conditions and the service are regulated and performed pursuant to
the Republic of Korea statutes. The Republic of Korea law shall be the
governing body for settlement of any disputes irrespective of the user¡¯s
nationality or place of abode. However, when there exist no statutes or Supreme
Court decisions on cryptocurrency and related matters in the Republic of Korea,
precedents and influential opinions outside the Republic
of Korea may have the effect of a governing statute on these terms and
conditions and the settlement of disputes. When any dispute arises between the
company and a user in connection with the use of the service, the parties shall
make efforts to settle them amicably between them. If the dispute is not settled despite such efforts, a lawsuit
may be filed with a competent court under the Republic of Korea Civil
Proceedings Act. Filing a lawsuit or petition to a law court or other judiciary
agency, arbitration or mediation agency and any other comparable agency outside
the Republic of Korea. The users shall
agree to this.